Sep 22, 2010

FX Path

FX Path

USD/CHF - 2+ Year Low and Still Bearish

Posted: 22 Sep 2010 10:17 AM PDT

Price action on USD/CHF (a daily chart of which is shown) as of Wednesday (9/22/2010) has broken down tentatively below prior support just above the key 0.9900 price region, establishing a 2 1/2 year low. This occurs during what has thus far proven to be a substantially bearish week for the pair. For more technical analysis on this currency pair, please click here for Wednesday’s (9/22/2010) Chart of the Day.

James Chen, CTA, CMT

* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.
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